When is it worth adjusting your contract?

1. From full casco to partial casco

Full casco insurance is worthwhile for new vehicles. As the car gets older however, the higher premiums no longer make sense after a certain point. This is the point to switch from full to partial casco. A good rule of thumb is when the car reaches four years of age, though this always depends on your individual needs and the vehicle’s value.

2. Changing vehicle

You can also change your insurance when changing vehicles. The premiums already paid will be refunded proportionally. However, changing vehicle is always a good opportunity to adapt your old policy to your new vehicle. For example, you can switch from full to partial casco.

3. Two cars – one licence plate

If you’ve decided to purchase a second car, but never use both vehicles at the same time, you can apply for an interchangeable licence plate. The insurance policy applies to the vehicle that is correctly displaying the licence plate.

You can usually choose the type of cover for each vehicle individually. This means that you can have full casco insurance for one vehicle, but only partial casco for the other.

4. Moving to another canton

Moving to a different canton involves a lot of bureaucratic work and also affects your car. Firstly, you must report your move to your new road traffic office within 14 days.

In addition, you must also notify your insurance company of your new place of residence. The amount you pay for your premiums depends on your place of residence and may therefore change.

5. Adjusting the main driver

When taking out insurance, you must declare who will drive the vehicle most often (it could be one or more people). Insurance companies take this into account when calculating premiums.

You must inform the insurance company if your partner becomes the vehicle’s main driver in the future. You must also inform your insurance company if, for example, your child starts driving your car when they are old enough.

6. Adjusting for mileage

Especially in urban areas, more and more commuters are switching to alternatives to cars. In addition, more people are working from home. As a result, your mileage is significantly lower. Car insurance takes this into account, so set your yearly mileage realistically.

Good to know: many insurers use adjustments to multi-year policies as a way to restart the policy’s contractual period from the beginning. Avoid this if possible.

On the contrary, you should apply for the right to cancel the amended policy annually. This lets you remain flexible and take advantage of cheaper offers more quickly. After all, cancelling outside of the contractually agreed time is usually not possible. Click here to find out when and how you can switch insurance before your contract expires.

7. Change in risk levels

You need to answer a series of questions when applying for insurance. Insurance companies use this to calculate the level of risk. For example, you must declare your yearly mileage, what you use the vehicle for, etc.

If your answers change at any pointing after taking out the contract, this represents a change in risk levels. You are obliged to give your insurance company written notification of any changes immediately.

Increase in risk levels

If the risk is higher than before, insurance companies call this an increase in risk levels. If your insurance provider doesn’t contact you following your written notification, your present insurance will continue to cover the increased risk. Should your insurer have any objections, they must terminate your contract within 14 days.

Decrease in risk:

If your risk is lower than before, this is called a decrease in risk. The insurance company reduces your premiums. Some insurance companies do this from the beginning of the next insurance year. Others do it immediately after receiving notification.

Tip: inform your insurer straight away if you’ve installed an alarm in your car, added additional airbags or park your car in a garage instead of outside. Your insurer may reduce your premiums depending on how they evaluate your risks.

8. Tuning the vehicle

If you spend a lot on optimizing your car, you must report this to the insurance company. Your premiums will be higher, but you avoid the risk of being under-insured and not receiving the full benefit in the event of a claim.